Presidio Terrace is a block-long street and private development
that has been run by the homeowners who live there since at least
1905,
according to the Chronicle. It has attracted some of the
wealthiest and most powerful politicians in California over the
years, including Sen. Diane Feinstein and House Minority Leader
Nancy Pelosi.

It's located in a less-trafficked area at the top of the San
Francisco Peninsula and has around-the-clock private security at
the entrance. There are 35 mega-mansions on Presidio Terrace.

In 2015, an unpaid tax bill caused the City of San Francisco to
put Presidio Terrace up for sale in a private auction. Tina
Lam, an engineer in Silicon Valley, and Michael Cheng, a realtor,
scooped up the street, its sidewalks, and other "common ground"
for $90,000. They told the Chronicle they want to charge
residents rent for parking on the street.

Residents are up in arms. The homeowners association has
sued the couple and the city. It wants the San Francisco Board of
Supervisors to rescind the sale — an unprecedented move.

The median home value in
the Presidio Heights neighborhood topped $5.1 million in June —
about four times the median home value in San Francisco,
according to data from Zillow.Melia
Robinson/Business Insider